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What Are The Advantages of Hiring a Business Consultant?

 
The biggest advantages are know how, previous experience, ability to deal with ambiguity and the ability to create value in a very short period of time.  Too often clients hire people and call them 'consultants' just because they are on a contract.  

There's a huge difference between contractors and consultants IMO.

Contractors are usually brought in to fill staff augmentation roles for a period of time.  Think - I need a Project Manager to manage project 'xyz' for 3 months.  They need only have generic PM skills in many cases and the ability to execute.  

True consultants are brought in because of their expertise in a specific functional area or areas.  They bring knowledge to the table which isn't available in house and can both execute the tasks at hand as well as guide the client and provide advice towards decisions which need to be made now and in the future.  By bringing in additional subject matter expertise there's a typical value add that is not always available by going the contractor route.

The biggest issue here is both on the client and consulting firm side.  Too often clients only need staff augmentation resources while consulting firms are more than happy to proffer up 'consultants' to do these generic roles.  Clients should do their due diligence and save some money by purchasing the level of services they need - not those which they are oversold.
 
Business consultant are very important part of business now a days, reason behind business consultants helps you in investing in profitable markets shares and new technologies. Basically  they are our financial advisor.
Taking an example if their is such new technologies are rising in market  be them Mobility, Cloud computing, Big data. They have radically changed the business landscape. To quickly turn these advances into competitive advantages, you need an IT consulting partner with innovative solutions, well-defined strategies and deep domain expertise.
In order to progress in the right direction, an organization needs to continuously strike harmony between the advancements in technology and its business strategy. They need to continuously reinvent themselves in order to sustain in the competitive environment.
The main advantage is the consultant's experience in the related field. Not every consultant has the perfect solution. Determining in what area you are seeking consultation (management, sales and marketing, product and business development etc) and selecting the right person will bring in the advantages.

Generally the biggest advantage is adopting good corporate practices into the organization. Most of the SME type businesses are run by entrepreneurs who has excellent ideas, hard working and have successfully kick started a good business. But overtime as the business grows and they need to expand, a consultant is helpful to streamline and discipline the processes and practices. This is an example from management consultancy point of view. Similarly there are other advantages in the respective areas.
 

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